This transcript has been automatically generated and may not be 100% accurate.

... I ... looks like we have an all time record close twenty s and pay five hundred ... fifteen sixty nine that looks like unsubtle around to that ... welcoming the new sub I'm Simon Constable ... and Steve Wood of Russell Investments' joins us now on the site to discuss this historic night and also ... when we money from export to ... say thank you very much for praying now estimates ... which on dollar echo of ... what is the of the last four was one ... two thousandseven Libor the SB five hundred ... this is a pretty broad market rally ... yup ECB from your pre senior you recently welcome display their jitters but you're also saying ... in a large cap in the Russell one thousand space small cap Russell two thousand so crossbar one thousand two thousand three thousand ... in US markets SB five hundred is hitting all-time record so ... it's a very good confirming I think broad based rally ... now one of things is interesting is that the major names like Apple Mowbray participating in the office of water until he was a strategist ... that ... there are couple things going on right now you've got fundamentals which haven't changed the whole lot last couple quality economies ... where the economy minded in the next day spas ... the EEG an economist at the trucking along not doing great but not really falling into recession that ... you gotta maturing at close to record heights earnings cycle right now so the fundamentals haven't changed the Federal Reserve is that which is what either ... in this environment when has a significant lose momentum ... in sentiment so we're watching is a strategist is you've got momentum changing significantly ... above the mean time momentum to mean that that that people are saying ok this is a good trend I wanted to keep keep going quite as results of that effort on some positive ... of perspective sentiment ... then leads to more positive said that so the momentum of the market is to go up ... right now it has been that way ... for a couple months obviously some momentum as fickle but it can be of very very powerful ... us but you look at long-term multiples on the market in early two in price earnings multiple for the surprise winners of the ... new ... limits on how much investors are willing to pay for dollar earnings ... in the market ... in two thousand nineteen eighty nine that was very high people were willing to pay out again in the market ... rate now even at these levels ... of people are still a little shy so we think that the market has ... moved in to some of the fundamentals ... but right now sentiment is taking a little bit above ... one else would become a stable and more were also two nine on the TV get a record high close on the SB five hundred but when it's also the hand of of course tomorrow will be trading of stocks closed good Friday ... aam ... Annex for so what would you what are you telling ... me out which climbed to do with the money ... Nascar the momentum trade ... you don't have a lot of options right now you've got the Federal Reserve was going to keep interest rates extremely well for the foreseeable future they've been very prickly ... in Europe you've got a Canadian out the Bank of England is going to be keeping interest rates very low even lower ... European Central Bank Bank of Japan so we know interest rates are ... heading ... self worth ... and again because is there some investors need to look into risk assets ... they need to look in equities they need to look into listed infrastructure commodities emerging markets the need to look at a global press five ... Annie's be a multi asset strategies the needs of all the of love wars ... and all this you have to look into everything in it and put ... everything in just a light one stalker wants active awarded some of the whole sector is ... that people ... might wanna thank Hokies putting the new court on Monday I should be and I'll put some money and before stopping in the look of equities inning to beat inflation and is the really within the credit squeeze and it is looking to me not last Sunday looks like it's been recently ... while performing Sophos sure do your homework active address energy ... some financials but again ... fell to the bounty that Eric ... helped or not regardless of what your politics are ... of the presence health care plan the Affordable Care Act is lawful and ... Sabine able to identify winners and losers in the spaces got easier all the last nine months or so ... also if you're looking at industrials materials ... to scuttle the little bit into a cyclical story begin you wanted your homework With name by name so that what we also see what is going to be something of a very good strategic perspective ... is stock ... picking security selection ... S stocks begin to behave differently Don always risk on risk off ... this cures like it also invites raises the alarm for ... top ten ... great stuff boys upon thank you my much loved it one of Russell Investments' ... Ahmad Wal-Mart the coverage on WS J dot com ... while President Obama says I ... began pushing for more gun control from him and ... from ... Jerry Sithe after the break ... for ... the notion that two months or three months after is something as her riffic ... is what happened in Newtown happens ... in the entire country ... we're shocked ... the entire country pledge we would do something about him is this time would be different ... shame on us if we forgot ... um I was present Obama on his leg pushing for more gun control the Wall Street dolls dayside joins us now from Washington DC ... Tom Jerry and it does seem like an awfully long time ago but it did when it was only a few months in New town to ... tell us more about that President Bush era for gun control ... the look on this is going to offer two week recess for the concerns that the White House is that this issue might be losing its momentum as time passes ... as Congress worries about budget issues and as it goes into this recess so when the reasons for the event today was just to keep that up the idealized ... and keep the momentum pushing forward ... so what the president did specifically was he pushed for ideas that are advancing have advanced in the Senate ... to overcome and I controversial issue of motherhood issues what is school safety spending more on school safety notice against that ... another one was in straw purchases of purchases in which somebody buys a gun and then handed off to somebody who's a fell under whose ... barred by law from from buying a gun that's up to the controversial ... two more controversial for provisions ... that he talked about one is to limit the size of magazines that people can buy ... as you can add as many rounds in the gun and the other one is that in the most controversial once he mentions universal background checks much broader background checks everybody is buying a gun at a store at a gun show ... interest least I knew what he didn't talk about much at all except obliquely ... was wide ... in some people really would like to have happen here on the gun control side that's a ban on assault weapons ... didn't come up it's not going anywhere the Senators for as ... much as how ... I miss this also comes in tandem with the new information released about the alleged that the new town ... my mother I aam salinity and a stash of pace and hostile weapons and sixteen hundred rounds ... write ... a ended and the silly detail plans to go but using that that material so ... that story also probably helps the White House keep this alive The gives it the first of ... all the stress of thinking in the public and ... frankly that's probably the only way that they eventually get done here there has to be some push ... from outside Washington to make it happen is that otherwise ... that ... the White House is a concern when you realize that the film Anna might slow down here ... ah but I'd I do think there are limits to what can be done ... and the White House was make sure that something happens even if it's not ... the ultimate bill that Democrats would like ... to get ... anything good to need to do you think the present Obama making his speech today was an indication the Pope nasty lost momentum ... aam and to um it's it's not really going anywhere ... well it's it's it's not going anywhere one of the Senate to do before that it looked last was have the judicial committee said these four ... bills to this for the Senate so that is on the counter study conducted on ... it's not moving as quickly in the house but there is a danger that people to focus on other things and this does go away ... Frank thank you Brian much Jerry Sithe of The will Street Journal we appreciate time ... come on down the beach and up from ... the U S government is unveiling a new series of graphic anti smoking ads as it steps up the push to get Americans to quit his local one ... I couldn't that contains of continuing slow ... and not be here for my daughter ... and know how much I mean you know aam steel ... and adding to realize it until I had lost ... the will Street gentle specs Nikkei has been following the government's crusade and joins us now from Atlanta Betsy it's it is very hard for a lot of people suspect quit smoking is not ... yes I mean that business people and generally do want to read about nineteen percent of the U S adult population still does smoke ... so on the idea with these with these ads is to ... really drive it home to people what smoking can do to you ... how when think of these ads and in Europe and some someone's ... and I will look and some of them now but time what why is that there's the added to scare people ... I mean they're they're pretty powerful each one of them shows someone whose life has been affected by smoking in one way or another in the one we just watches the ... woman who lost her mother and her quit smoking when her daughter was growing up because she ... you know do the same thing could happen to her daughter ... on the other so there's one of them and this time and has a diabetic who have lost a limb ... aam ... by ... this new wave of ads this year features a woman who's ... become familiar to many people know her name is Terry Hall and she has that ... a hole in her neck and so much ... aam because she had and headed neck cancer ... and time she says you know my my you know this feeling voiced my grandson has ever heard ... so these people have really their lives that contains a lot on smoking ... and so what one of the of the courts in and the story we have on businesses that Bella Fortier all-time and a commitment from this make the list ... for people ... you love of the top with the new highs alleges kidneys and Johansson now call so full of things are ok with losing because you draw the smoke ... that's pretty of bold statement ... yet a visible payment and be on the campaign is called ... is is called the tips campaign tips for smokers amass his tip for smokers if you're going to continue smoking ... here are the things that will be a factor that you can lose ... is that he's this and I was mentioning who aam ... has lost a limb he and the ad shows and on ... to his amputated leg ... now that this is also in tandem with the different our demonstration and dropping out very gruesome labels on nom ... on cigarette packs tells about that ... yet well that that so ... aam said the government the Obama administration has a whole ... the whole effort underway and has had for the past four years to um regulate tobacco reaching impact cut down Americans on news that tobacco and so another ... piece of that with that they propose some very graphic warning labels ... on serve the ... same type of sentiment as you seeing in these ads but on cigarette packs they should do these lines dead body to mean really ugly stuff and this is something ... you see on cigarette packs in many other countries around the world ... aam but I'm that after the proposed labels ended up in court ... and I'm you know we're objected to many tobacco industry and a I'm just a few days ago last week ... the aam ... the administration said it's going to pull back on these ads and go back to the drawing board to come up with a new approach and it appears clear that they understand they couldn't when the second quarter ... ton of time and testing and testing times thank you Brian much less to make a ... call the will Street gentle we appreciate time ... thanks ... to the read mall man smiles Wall Street John all ... just because big corporations have tons of cash parked overseas doesn't mean income be is the home ... what's up with that ... while Wall Street now is headlined by houses on she joins us now to explain this riddle ... all of ... its mineral last weekend in the cash is trapped abroad ... trace but they can still be used to ... it was a pretty interesting ... what ... the term ... well because of ... the delay in ... the U S taxes ... profits globally ... aam companies ... are keeping many of the lot of their cash held by their foreign subsidiaries ... and it is context ... as long as they don't bring it home ... it's a bit like access to that catch ... your eye please the lessons companies ... should Hewlett-Packard mom was the subject of a Senate hearing by General Electric and another company called Sunoco products also mention in their disclosures ... the base ... the short term loans to be able to ... bring that money back ... for the use of ... for daily operations ... and there she their short-term they don't cross the border ... or and if they do they don't extend the um thirty days and that is compliant with IRS rules so it doesn't get taxed and I knew just on a Friday deadline and if anything on a Friday deadline ... and have a full like confidence ... that you cannot ... you can ... summon that how how long can have it as it would seem to me that the staff ... well I mean I'm is that it's legal but ... well ... it's ... not illegal to have a continuous month after month ... loan them in effect is a ... his ... total access that cash will in this situation HP ... they have one unit in Belgium ... and one in the Cayman Islands ... and they alternate for forty five day periods between the tip ... off the fuss free from about twenty cm at that meeting ... and on ... however stayed in the ... fiscal year twenty eleven and twenty twelve there were eighty five days when they didn't use that ... word they were not accessing the catch ... so it's ... not ... entirely continuous and therefore it gets ... more compliant ... mobile plan when the defence that if it was continuous there has there have been rulings against companies that make it ... so that is no longer legal for it to be ... a continuous stretch from one subsidiary ... well incident of interesting stuff aam Phillips on some people are gonna be on the amount of time at the IRS but Tom ... if it's legal it's legal thank you very much paid one bar the extra Johnny can read mall man fastening story in tomorrow's Wall Street John all ... well what's in this week's ... mansion segment ... will tidy up half of a bright ... I ... I ... ay ay ... ay ay ... what about the new sub at the beest live I'm Simon console it's time for private properties ... a sudden we know you'd love what we reviewed thousands when a fund possibly afford ... to help with demand weak almost half the width of the mansion section ... a good thing as eyesight and then some aam and and try to lose big bubble this such a mug mug some of the Mediterranean Congan means that this is a and staying out on the cut says Erin E and I like how it's on it's when tinkling on the market in May and airplane for the building ... at eighteen T million and twenty million dollar ... apartments and easily build in the summer of fourteen and they will range from a thousand square feet high thousand square feet ... bill it's really interesting about this is on it rather than paying tax I just paid sixty one million dollars in an estate sale for this in twenty twelve ... any use to be this how less that ... you know a lot of people with an entertainer and aam Arif matter Lane and his wife would have these great grand parties here ... and I'm mystified Tech has decided this would be traits make into high end apartments on especially with ASIC's with the Greek columns the sun as are very iconic ... said we have a feeling they're going to be a lot of people who want that trophy property in the next rainy and one and look what ... everyone else twelve months for a new core flooded for the crisis that hit to my married Ellison will serve as a likely top of property as their idiocy on the Oracle billionaires out to some more this time and set up on buying he is selling this is on the market for twenty three which was ... while the map and then sell Adelaide and that the market for twenty point five million ... everything is selling an assignment is not because of the way that because he is building a bigger compound this one and its two point two acres ... that's easy to quit sixty makers that he put together on the over three years from now he is building a seven point six acre compound ... this one was not enough even though it is over nine thousand square feet in the main houses were seen ... as the sound free screening Rio ... on Japanese soaking tub in the master suite ... come along with a lot of people in my ... life would have Joe Amato again ... although the police must over the next one aam was the twenty oh two for one whole slam tennis court in San Diego who had been in the and the hum of Leonard Glanville it as sports and entertainment entrepreneur and he is on ... the L A XRX hockey team ... ECDAX and the stories and he is selling his room for nine point seven five million ... yes I mean this in the Oakleigh party house that is fifteen thousand ... of the RAF and ... but ... thus the road to rest ... now it is not a real giraffe and I think you probably couldn't take that with him ... oh what makes this amazing is that that's what waterfalls in this town ... their insights driveway they can fit hundred cars in the cards he and a tennis court for more than three hundred of your best friends can wants to you ... in our place and beat the out of someone ... on Sunday he takes on Tuesday it has sold now we we have ... this on a wild week the UN and ... the leaders was long I could be with the home and I well I think that if they can take credit for this because the by air rail and in the incoming Crete president of the nineteen international communications company ... saw this come first in our private properties column ... on look to the video and decided he had to have an ... e inside the home Depot for one on the market three days later ... he putting an offer it sold for five point one eight million ... which is only six percent under the act I size up so the lovely to walk onto the bright happy that my friend Angela After waits for the mansion section I'm Simon Qassam on that's it that's a new supper now ...